Closing bell: Market Ends Mixed; Sensex & Nifty Fall Weighed By RIL, Bajaj Finance, Midcaps Support

The Indian stock markets ended Tuesday, October 15, on a mixed note as the Sensex and Nifty slipped into the red, while midcap and smallcap stocks showed resilience and posted gains. Weighed down by losses in heavyweights such as Reliance Industries, Bajaj Finance, and Bajaj Auto, the benchmarks struggled to hold their ground. Weak global cues, lacklustre Q2 earnings reports, and persistent concerns over inflation contributed to the subdued market sentiment, although a sharp fall in crude oil prices provided some relief and limited the downside.

The Sensex fell by 153 points to close at 81,820, while the Nifty 50 dropped 71 points to end at 25,057. Despite the decline in the benchmark indices, the midcap index gained 155 points to 59,620. Nifty Bank also inched up 89 points, closing at 51,906. Broader markets continued to show strength, with positive market breadth-an advance-decline ratio of 1:1-indicating balanced participation from both gainers and losers.

A steep decline in crude oil prices, following reports that Israel would refrain from striking Iranian energy infrastructure, boosted oil marketing companies (OMCs). Stocks in this sector gained 2-4%, led by strong performances from Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL).

Automakers came under pressure, with Bajaj Auto being the top loser ahead of its earnings release. Bajaj Auto's stock was hit hard due to concerns over its Q2 performance, dragging down the entire sector.

Profit booking was evident in Wipro's stock, which saw a decline after rallying on the announcement of its bonus issue. However, HCLTech ended in the green, supported by healthy Q2 earnings that beat market expectations.

Stocks like Asian Paints and Berger Paints rose by 1-2%, buoyed by falling crude oil prices, which are expected to ease input cost pressures for the paint industry. Divis Laboratories took a 2% hit as a US court rejected Novartis' plea related to its drug Entresto.

Angel One surged 18%, driven by healthy growth in Q2 profit and revenue. Investors responded positively to the company's strong earnings, making it one of the top performers of the day.

PVR Inox reacted favourably to its Q2 results, with the stock closing 2% higher. Real estate firm Sunteck Realty gained 7% after posting a strong quarterly business update. Sterling & Wilson hit the 5% upper circuit after the company announced it had turned profitable in Q2. Ola Electric saw its stock rise 3% on the back of a growing market share, which increased to 34% as of October 14.

Global markets offered little direction, with European and US futures trading mixed. Weak Q2 earnings from key global players and concerns over inflationary pressures weighed on sentiment, but the sharp fall in oil prices helped cushion the impact on Indian markets.

While the Sensex and Nifty ended lower, the broader market's relative outperformance reflects continued investor interest in mid and smallcap stocks. Sectors like energy, real estate, and select financials stood out, while heavyweights such as Reliance Industries and Bajaj Auto dragged down the benchmarks. With Q2 earnings in full swing and global factors influencing market movements, investors are keeping a watch on further developments, particularly around inflation and geopolitical concerns.